WISH THIS WEEKEND MAKES YOU REINFORCE THE POWER OF YOUR THOUGHT. HAPPY WEEKEND.

Macro Economic News 08 Dec 2018

 

Federal Reserve officials are considering whether to signal a new wait-and-see mentality after a likely interest-rate increase at their meeting in December, which could slow the pace of rate increases next year. Americans continue to feel good about the economic outlook, with the University of Michigan saying its preliminary index of consumer sentiment exceeded economists’ expectations.

 

FINANCIAL TIMES

[I]  Opec agrees to cut output by 1.2m barrels a day

[I]  France prepares for further protests this weekend

[I]  US CEOs are still bullish, just not as bullish as before

[I]  EU directive on sharing ‘e-evidence’ approved

[I]  Switzerland risks EU sanctions threat over integration deal

[I]  Leave campaign plans quietly for second referendum

[I]  EU poised to impose sanctions over Ukraine poll

[I]  US wage growth steady despite sharp slowdown in hiring

[I]  UK plans clampdown on retail trading in complex derivatives

 

REUTERS

[I]  Paris in lockdown as France braces for new anti-Macron riots

[I]  Japan's military sees record spending, aims to buy more U.S. arms - Nikkei

[I]  Wall Street tumbles, indexes post biggest weekly losses since March

[I]  Fed policymakers signal turning point on U.S. rate-hike path

[I]  OPEC, Russia agree to slash oil output despite Trump pressure 

[I]  India's July-September current account gap hits four-year high on oil price rise

[I]  Global Economy: No Brexit shock absorber for UK this time

[I]  U.S. job growth slows in November, monthly wage gains modest

 

BLOOMBERG 

[I]  Why Plunging Fed Odds and Jobs Miss Failed to Dent the Dollar

[I]  Germany Willing to Merge Deutsche Bank, Commerzbank, Focus Says

[I]  The Yield Curve Is Inverted! Remind Me Why I Care

[I]  OPEC Cut Throws Wrench Into Record Oil Short-Selling Streak

[I]  Emerging-Market Dud Turkey Wins Favor as a Top Trade for 2019

[I]  U.S. Consumer Credit Rose Most in 11 Months in October

[I]  How OPEC Math Arrives at Its 800,000-Barrel Cutback Share

[I]  Drillers Lay Down U.S. Rigs With Oil Volatility Crushing Plans

 

WALL STREET JOURNAL

[I]  U.S. Hiring Slows as Wages Grow, Unemployment Holds at Multidecade Low

[I]  Did the Job Market Slow in November? Here’s How It Compares

[I]  Analysis: Jobs Report Keeps December Rate Increase on Track

[I]  Fed Weighs Wait-And-See Approach on Future Rate Rises

[I]  Consumer Sentiment Remains Steady in the U.S.

 

BUSINESS LINE

[I]  Loot and scoot has left banks Rs. 168.72 crore poorer: RBI data

[I]  India-EU attempts to re-start free trade talks stumble on old issues

[I]  Pace of road construction to slow down in FY20 due to funds shortage: CARE

[I]  Brexit no deal: British Indian MP’s call to use threat of food shortages against Ireland draws flak

[I]  Buoyant equities boost MF assets to Rs. 24 lakh crore in Nov

[I]  Tough acts: Balancing growth with equity, and concern for environment

 

ECONOMIC TIMES

[I]  Gold demand loses steam due to high prices

[I]  Forex reserve rises by $932.8 million to $393.72 billion

[I]  Cotton Association of India cuts 2018-19 production estimate by 3 lakh bales

[I]  India Inc's Jan-Nov M&A deal tally at $82 billion: Report

[I]  India, UAE currency swap pact to reduce Delhi's dependency on US dollars

[I]  Current account deficit widens to 2.9% of GDP in Q2

 

BUSINESS STANDARD

[I]  Policy on cards to let firms exit highway projects easily: Road ministry

[I]  July-Sept current account deficit at 4-year high on rising oil prices: RBI

[I]  Opec, allies agree on larger-than-expected cut after marathon talks

[I]  India hopes to double ethanol blending to 8% in 2018-19 sugar season

[I]  SBI chairman says amendments required in section 29A of insolvency code

[I]  Insolvency code missing deadlines of recoveries 2 yrs after ambitious start

[I]  Govt contribution to National Pension Scheme raised to 14% of basic salary

 

Best Regards, ARBIND

08 Dec 2018

LET THE DIVINE GRACE LEAD THE WAY. WISHING A GRACEFUL DAY AHEAD.

Macro Economic News 07 Dec 2018

 

Federal Reserve officials are considering whether to signal a new wait-and-see mentality after a likely interest-rate increase at their meeting in December, which could slow the pace of rate increases next year. The total net worth of U.S. households rose to $109 trillion during the third quarter of 2018, as higher property and stock prices boosted the wealth of Americans. The U.S. trade deficit reached the highest level in 10 years in October, driven by a bump in imports and falling exports of American-made products.

 

FINANCIAL TIMES

[I]  Oil tumbles as Opec struggles to agree output cut

[I]  Financial services exports to EU face 59% fall

[I]  French PM steps into line of fire as protests escalate

[I]  Germany’s CDU fights over Merkel’s successor

[I]  Traders slash bets on Fed interest rate rises

[I]  Australia passes law to access encrypted messages 

[I]  Switzerland faces stark choice on EU integration deal

[I]  France plans its own tax on big tech groups

[I]  Investors unlikely to rush back into tech sector

 

REUTERS

[I]  India's trade ties with Beijing taking time to ripen

[I]  U.S. finalises duties on certain steel pipe from China, India 

[I]  Japan household spending unexpectedly falls, casts doubt over fourth quarter recovery

[I]  Oil firms on drop in U.S. crude stocks, market awaits OPEC/Russia supply decision

[I]  Oil firms on drop in U.S. crude stocks, market awaits OPEC/Russia supply decision

[I]  Yemen warring sides agree at start of talks to free thousands of prisoners

[I]  Rejecting suggestions of delay, UK PM May's team says Brexit vote will go ahead

[I]  German industry orders rise despite global trade friction

 

BLOOMBERG 

[I]  How to Survive the Trade War If You're an American Firm in Asia

[I]  Reunited, But Does it Feel So Good?: World Economy This Week

[I]  All Around the World, Central Bank Independence Is Under Threat

[I]  Biggest Worry for Traders? They Don't Know Why Stocks Are Moving

[I]  Bitcoin Approaches Lowest Level in More Than One Year

[I]  How China's New Drug-Buying Program Is Causing Pain

[I]  Behind the Market Turmoil Lies Nothing But Excuses

[I]  Record-Breaking Day in Front-End Rates as Fed-Hike Bets Crumble

[I]  Powell Says U.S. Labor Market ‘Very Strong’ by Many Measures

[I]  Fed Showdown, Trump Weaponizes Uncertainty, ECB Errors: Eco Day

[I]  India Growth Forecast Cut by Fitch Amid RBI-Government Spat

 

WALL STREET JOURNAL

[I]  Fed Weighs Wait-And-See Approach on Future Rate Rises

[I]  Fed Chief Powell Draws Congressional Support

[I]  U.S. Household Net Worth Rose by $2.07 Trillion in 3rd Quarter

[I]  What Explains the Trade Deficit Hitting a Decade-High?

[I]  U.S. Private Sector Adds 179,000 Jobs in November

[I]  U.S. Productivity Revised Upward to 2.3% in Third Quarter

[I]  Brexit Stockpiling Frenzy Leaves Firms With Few Warehouses

[I]  Business’s Climate Challenge: Getting Customers to Pay

[I]  Foreign Steel Keeps Flowing Into U.S. Despite Tariffs

 

BUSINESS LINE

[I]  Govt moves to double farm exports by 2022

[I]  1 out of 8 deaths in India due to air pollution

[I]  Centre sweetens NPS for Govt staff

[I]  PE/VC investments in Jan-Nov total $27 b

[I]  Govt prepares Cabinet note to strike down Section 33 (2) of Aadhaar Act

[I]  Centre urges secondary education boards to find ‘common ground’ on evaluation

[I]  At 37%, NBFC-MFIs hold largest share of small loans in rural areas

 

ECONOMIC TIMES

[I]  India's trade ties with Beijing taking time to ripen

[I]  RBI's new math will change how Indians borrow

[I]  OPEC waiting for Russia before deciding how much oil to cut

[I]  With sops promised, wheat acreage to rise despite poor rains

[I]  Iraq keen on resuming tea imports from India

[I]  Bonds at 8-month high on RBI bond purchase hopes, inflation comments

[I]  After banks, insurance companies weigh legal backing for staff

[I]  India's cotton output could drop to the lowest in 9 years

[I]  Pakistan-India trade much below full potential of $37 billion: World Bank

[I]  Ecommerce firms facing glitches in filing 'tax collected at source' details

 

BUSINESS STANDARD

[I]  Banks at 'poverty line' of capital will stay poor: RBI executive director

[I]  Volume growth, earnings prospects for gas distribution firms remain strong

[I]  EU regulator okays Indian seafood exports, satisfied with residue control

[I]  PSU sales power up Centre's divestment kitty, yet public ownership retained

[I]  Centre eyes $60 billion in agriculture exports by 2022 with new policy

[I]  Cabinet okays Power Finance Corp's takeover of Rural Electrification Corp

[I]  Decoded: What is the recent amendment in Mauritius' Income Tax Act?

[I]  Total individual wealth held by Indians to hit Rs 518 trn in 5 yrs: Report

[I]  India to import Iranian crude oil using rupee payment mechanism: Source

[I]  NBFCs raise interest rate between 50 and 200 bps amidst liquidity squeeze

[I]  As NBFCs face a credit crunch, real estate sector is pushed to the brink

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10685;  USDINR DGCX: 70.7900;  DJIA Mini: 24948;  FTSE 100 Fut: 6704;  NIKKEI 225 Fut: 21510;  EUR-USD: 1.1375; Crude Oil (WTI): 51.25;  Gold (Spot): 1239

 

Best Regards, ARBIND

07 Dec 2018

WHAT YOU HAVE, MANY CAN HAVE. WHAT YOU ARE, NO ONE CAN BE. WISHING A UNIQUE DAY TO YOU.

Macro Economic News 06 Dec 2018

 

The Reserve Bank of India kept interest rates unchanged on Wednesday, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum. Treasury market moves are sending a menacing signal about the economic outlook. An inverted curve is often interpreted as a signal of a looming recession. France became the most heavily taxed of the world’s rich countries in 2017, according to figures published the day after President Emmanuel Macron backed off a fuel-tax increase that enraged much of the nation.

 

FINANCIAL TIMES

[I]  Beijing and US try to rebuild trust in trade ceasefire

[I]  Warning for climate negotiators as carbon emissions hit new high

[I]  May struggles to quell Brexit rebellion as backstop anger grows

[I]  Italian PM willing to ‘tweak’ budget plan to avoid EU sanctions

[I]  Senators prepare to tackle US support for Saudi action in Yemen

[I]  Putin vows to develop new missiles if US scraps nuclear treaty

[I]  India wins extradition of UK businessman over bribery claims

 

REUTERS

[I]  RBI keeps rates on hold, moves to spur lending

[I]  RBI chief draws veil over rift with government

[I]  Bank of Japan will respond as needed to economic risks: Kuroda

[I]  Japan eases conditions for solar power subsidy curbs

[I]  Japan manufacturers' mood down, bodes ill for BOJ survey: Reuters Tankan

[I]  UK economy risks severe damage without orderly Brexit: CBI

[I]  Hoarding for Brexit sparks race for warehouse space in Britain 

[I]  OPEC, Russia move closer to cutting oil output 

[I]  Australia poised to force tech firms to hand over encrypted data

[I]  Dollar's unrivalled surge this year will reverse in 2019: Reuters poll

 

BLOOMBERG 

[I]  Iran-Based Hackers Indicted in March Cyberattack on Atlanta

[I]  U.K. Suspends Visa Program for Super Rich in Crime Crackdown

[I]  OPEC Grasps for Oil-Cuts Deal to Lift Price in Defiance of Trump

[I]  Regulator Tells U.K. Auditors to Do Better on Company Reports

[I]  It’s the Worst Time to Make Money in Markets Since 1972

[I]  The Yield Curve Is Trying to Tell Us Something

[I]  Number of Brazilians Living in Poverty Rises 2 Million in a Year

 

WALL STREET JOURNAL

[I]  China Says There Is ‘Clear Timeline’ on Trade Negotiations

[I]  Flatter Yield Curves Aren’t Always Bad News—but This One Is

[I]  Business’s Climate Challenge: Getting Customers to Pay

[I]  Bush’s Trade Legacy on the Line as Trump Seeks to Replace Nafta

[I]  France Tops OECD Table as Most Taxed Country

[I]  Real Time Economics: U.S. Labor Market Is the Best On Record for High-School Dropouts

[I]  Foreign Steel Keeps Flowing Into U.S. Despite Tariffs

 

BUSINESS LINE

[I]  Garlic prices at 5-year low on supply surge

[I]  EU asks India to drop mandatory quality testing for steel imports

[I]  SBI sees GDP growth slipping below 7% in H2

[I]  Cyber attacks can cost firms over $10 m: report

[I]  Poor planning leaves Bengal farmers with large potato stocks

[I]  Lending rates likely to go up despite RBI holding rates

[I]  External benchmarks for retail loans will lead to higher earnings volatility

[I]  Digital payments: Ombudsman scheme to boost consumer confidence

[I]  RBI relaxes concentration limits for banks lending to NBFCs, HFCs

 

ECONOMIC TIMES

[I]  Four key points that raise questions on back series GDP data

[I]  Tax axe looms large over India's back offices

[I]  More trouble ahead for bruised rupee: Reuters poll

[I]  View: 10-year G-sec yield to trade in 7.3-7.7% range in Q4FY19

[I]  Finance Ministry says RBI's assessment of economy in line with govt's reading

[I]  Strong domestic demand pushes services PMI to four-month high in November

[I]  Slow land reforms posing downside risk for infra projects: Fitch Solutions

[I]  India revives WTO talks on domestic regulation

 

BUSINESS STANDARD

[I]  RBI keeps repo rate unchanged at 6.50%, seeks to prod banks to lend more

[I]  Here's a snapshot of PE activity & deals so far this year

[I]  Real estate developers pin hopes on holidaying NRIs for a Christmas miracle

[I]  Marketing turning cross-functional as customers seek personalised service

[I]  Private equity, venture capital firms strengthen teams after losing talent

[I]  Cabinet likely to clear policy to boost exports of agri commodities

[I]  Here's a quick decoding of the RBI monetary policy review in December

[I]  RBI may continue OMO purchases at current pace till March: Viral Acharya

[I]  RBI monetary policy: The Indian central bank signals a prolonged pause

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10743;  USDINR DGCX: 70.8075;  DJIA Mini: 24738;  FTSE 100 Fut: 6863;  NIKKEI 225 Fut: 21590;  EUR-USD: 1.1346; Crude Oil (WTI): 52.68;  Gold (Spot): 1240

 

Best Regards, ARBIND

06 Dec 2018